Financial Aid Overview 2012-13 Materials recommended for this presentation: Seeking Financial Aid brochures Copies of presentation for participants

What is Financial Aid? Financial Aid is money received from: Federal State Institutional Private sources Financial Aid is awarded to help students pay for college expenses College expenses include: tuition and fees as well as other expenses, such as transportation, food, housing, clothing and computer costs. These are all associated with paying for college.

The FREE Application for Federal Student Aid (FAFSA)

What is the FAFSA? The Free Application for Federal Student Aid (FAFSA) is a form that current and prospective students must annually complete to apply for federal student aid The FAFSA is distributed and processed by the largest source of student aid in the nation, the U.S. Department of Education Applications are available electronically or in paper form Students are encouraged to apply as soon as possible on or after January 1st Completing the FAFSA is just the first step in the financial aid process Please note that the first letter in the acronym FAFSA stands for FREE. Please make sure you are using the correct website fafsa.gov not fafsa.com. While the application does become available January 1st, it is advisable to complete the FAFSA once you and your parent(s) have file their tax return. For Fall of 2013, you will use your 2012 tax returns. If you submit your application based on estimates, please be sure to log back in and update the figures to reflect the true and correct amounts. It is highly advisable to utilize the IRS data retrieval tool to insure that your information is accurate this will help reduce your chances of your file being selected for verification.

www.FAFSA.gov FREE!

Before Beginning the FAFSA Check ALL application deadlines School and state deadlines* may differ from federal guidelines Confirm your dependency status* Search for school codes* Determine how you will submit the FAFSA Electronically (up to 14 days FASTER!) Electronic signature and submission requires a PIN. Establish a PIN before at www.pin.ed.gov or during the application process Manually Sign and mail the application to the address provided The priority funding deadline for the State of Florida is May 15th Only biological parents provide information for FAFSA purposes. If you have a guardian you cannot use their information for financial aid application. All students under the age of 24 must provide parental information, unless they meet one of the qualifications as an independent. Students who’s parents are divorced or separated must indicate so on the FAFSA and must select the parent who provides more than 50% of their support to include on the FAFSA. Your application will not be processed without a signature. *Can be done online at www.fafsa.gov!

Gather important info: Social Security Number Driver’s License Number (if any) 2012 W-2 Forms and other records of money earned Student: 2012 Federal Income Tax Return Parent: 2012 Federal Income Tax Return (if you are a dependent student) 2012 untaxed income records Current bank statements Your current business and investment mortgage information, business and farm records, stock, bond and other investment records Alien registration or permanent resident card (if you are not a U.S. citizen) Gather your important documents so that data entry for the FAFSA form will be easier. This list will help you get started: (read slide)

“FAFSA on the Web” Worksheet Allows you to read and complete FAFSA questions before entering your information online Questions are listed in the same order that they appear on the official electronic application Available online at: www.fafsa.gov You can also obtain printed copies of this worksheet by calling 1-800-4-FED-AID (1-800-433-3243) or through your financial aid office More for Sophomores and Juniors… early Senior year.

Complete the FAFSA - Electronically Go to www.fafsa.gov and click on “Start A New FAFSA” IRS Data Retrieval Tool is available US Department of Education HIGHLY recommends using this tool Sign and submit the electronic FAFSA with your PIN Fastest way to complete the application. Or complete the FAFSA by transferring the data from your “FAFSA on the Web” worksheet to your electronic application, if applicable. Please consider using the data retrieval tool. It may also be advisable to go ahead and order a copy of your tax transcript from irs.gov. The transcript is free of charge and takes 7-10 days to receive. Remember, you can apply for a PIN before or during the FAFSA process If you cannot remember your PIN, you may request a duplicate PIN by visiting www.pin.ed.gov

Complete the FAFSA - Paper You can request a paper FAFSA in English or Spanish from the Federal Student Aid Information Center by calling 1-800-4-FED-AID (1-800-433-3243) A .pdf version of the application is also available at www.fafsa.gov Complete, sign, and mail the FAFSA in the pre-addressed envelope, or send it to the address indicated in the .pdf version (if you printed one) Your FAFSA will be processed in two to three weeks May take longer during peak processing times

Your Student Aid Report (SAR) You will receive: Your SAR by E-mail three to five days after your FAFSA has been processed, if you provided an E-mail address when you applied Your paper SAR by mail seven to ten days after your FAFSA has been processed, if you did not provide an E-mail address when you applied

Your Student Aid Report (SAR) Your SAR will contain your official Expected Family Contribution (EFC) The U.S. Department of Education calculates your EFC, and sends your EFC to the postsecondary institutions you listed on your FAFSA The postsecondary institution will determine how much financial aid you are eligible to receive from the following formula: Cost of Attendance (COA) - Expected Family Contribution (EFC) = Financial Need

Making Corrections If you need to make any changes to your SAR, go to the FAFSA home page at www.fafsa.gov, and click on “Make Corrections to a Processed FAFSA” under the “FAFSA Follow-Up” section of the home page If you received a paper SAR, you can make corrections on the paper SAR and mail it back to the address provided Review your SAR for accuracy. Contact your Financial Aid office with updates or corrections. Check with your financial aid office BEFORE making any corrections to determine if they will file the corrections on your behalf

Information to Keep In Mind Contact your school to determine your award eligibility Your FAFSA may be used to apply for aid from other sources, including your school and state If you need help filling out the FAFSA or if you have any questions about the FAFSA, call the Federal Student Aid Information Center toll-free at 1-800-4-FED-AID Don’t forget to apply for grants, scholarships, or other financial aid at the institution you want to attend Use student loans as a last resort Completing the FAFSA is the first step in the financial aid process. The FAFSA may be required for other grant and scholarship programs so it is extremely important that you complete and error free application by the priority funding deadline set forth by the colleges you may attend.

State Grants and Scholarships

State Grants & Scholarships The Florida Department of Education, Office of Student Financial Assistance (OSFA) administers state-funded scholarship and grant programs and the Federal Family Education Loan Program Please visit www.FloridaStudentFinancialAid.org for detailed information, applications, and deadlines

How to Apply for State Grants & Scholarships The Florida Financial Aid Application is available December 1st Remember to apply early Each scholarship and grant program has its own application deadline Check the website for details Go to www.FloridaStudentFinancialAid.org Click on “State Grants, Scholarships & Applications” In the top blue toolbar, click on “Apply Here” Click on “Initial State Student Application” Check the website often to track application progress and make updates You must apply for Bright Futures via this website by your senior graduation date. If you were eligible and met the criteria, but did no apply you will never receive Bright Futures funding.

www.FloridaStudentFinancialAid.org

Student Application

Types of State Grants & Scholarships

Florida Bright Futures Scholarship Program Scholarships based on high school academic achievement Florida’s largest merit-based scholarship program Three levels of scholarship awards – Florida Academic Scholars (including Academic Top Scholars) Florida Medallion Scholars, Florida Gold Seal Vocational Scholars The Florida Bright Futures Scholarship Program provides scholarships based on high school academic achievement and is Florida’s largest merit-based scholarship program The Program offers three levels of scholarship awards – the Florida Academic Scholars (including Academic Top Scholars), the Florida Medallion Scholars, and the Florida Gold Seal Vocational Scholars

Florida Bright Futures Scholarship Program To be considered, a student must submit a completed (error-free) Florida Financial Aid Application during his or her last year in high school (after December 1st and prior to graduation) FAFSA is also required Eligibility requirements can be viewed at: http://www.FloridaStudentFinancialAid.org/SSFAD/factsheets/BF.htm Award amounts can be viewed at: http://www.FloridaStudentFinancialAid.org/SSFAD/bf/awardamt.htm To be considered, a student must submit a completed (error-free) Florida Financial Aid Application during his or her last year in high school (after December 1st and prior to graduation) FAFSA is required. Eligibility requirements can be viewed at: http://www.FloridaStudentFinancialAid.org/SSFAD/factsheets/BF.htm Award amounts can be viewed at: http://www.FloridaStudentFinancialAid.org/SSFAD/bf/awardamt.htm

Bright Futures Requirements Students are required to submit a complete, error-free FAFSA for: Bright Futures, José Martí, Rosewood, Florida Resident Access Grant, and Access to Better Learning and Education Grant FAFSA is required annually of initial and renewal students any time prior to disbursement No FAFSA = No $$ All Bright Futures recipients are required to submit a complete and error free FAFSA application each academic year in order to receive their Bright Futures funding.

Bright Futures Requirements Community service hours are required for all Bright Futures scholarships FAS – 100 hours (increased from 75 hours) FMS – 75 hours (increased from 0 hours) GSV – 30 hours (increased from 0 hours) Please insure that the community services hours are approved by your school District. Don’t make assumptions, verify that the project is approved or the hours will not be counted for Bright Futures awards. Check with your District or counselor if you have questions.

Test Score Requirements Raising the Bar for Juniors, Sophomores & Freshmen Graduation Year Year of Initial Eligibility FAS SAT ACT FMS SAT ACT 2011-12 2012-13 1270 28 980 21 2013-14 1280 1020 22 2014-15 1290 29 1170 26

2012 Legislative Changes Spring funding for mid-year high school graduates University of Florida Innovation Academy students receive funding in spring and summer terms Students graduating high school in 2012-13 are eligible to accept an initial Bright Futures award within two years following high school graduation and to accept a renewal award for five years following high school graduation Students who graduate from high school midyear may submit a Florida Financial Aid Application no later than August 31 prior to the student’s graduation, be evaluated for Bright Futures, and, if eligible, receive funding in the spring term following the student’s high school graduation. University of Florida Pilot Program students receive funding in spring and summer terms. Students graduating high school in 2012-13 are eligible to accept an initial Bright Futures award within two years (rather than the current 3 years for reinstatement) following high school graduation and to accept a renewal award for five years following high school graduation.

2012 Legislative Changes The Gold Seal Vocational program will remain unchanged for renewing students 2012-13 Initial Gold Seal Scholars WILL NOT BE FUNDED if enrolled in an AA or BA degree program 2012-13 Initial Gold Seal Scholars MAY BE FUNDED FOR UP TO 100% for the following programs of study at a Florida public or eligible Florida private postsecondary institution: Applied Technology Diploma, up to 60 credit hours or equivalent clock hours Technical Degree Education Program, not to exceed 72 credit hours or equivalent clock hours Career Certificate Program, not to exceed 72 credit hours or equivalent clock hours 2012-13 and forward graduates who earn FGS, will not be funded for AA or BA degrees. They will be funded for Applied Technology Diplomas, Technical Degree Education Programs and Career Certificate Programs not to exceed the hours listed on this slide.

Other State Grants & Scholarships The Initial State Student Application also determines your eligibility for other state grants and scholarships administered by the state of Florida José Martí Scholarship Challenge Grant Fund Rosewood Family Scholarship Program Scholarships for Children and Spouses of Deceased or Disabled Veterans Please visit the OSFA website under State Grants and Scholarships and select the Programs Offered menu to review the details of each award, including application, deadlines, renewal and award amounts. For more details about these state programs, please visit: www.floridastudentfinancialaid.org/SSFAD/home/ProgramsOffered.htm

Other State Grants & Scholarships Your institution will determine your eligibility for other state grants and scholarships administered by the state of Florida Florida Student Assistance Grant Florida Resident Access Grant Access to Better Learning and Education Grant Florida Work Experience Program Mary McLeod Bethune Scholarship For more details about these state programs, please visit: www.floridastudentfinancialaid.org/SSFAD/home/ProgramsOffered.htm

www.flvc.org Florida Virtual Campus (www.flvc.org) is Florida's official online student advising system that can assist high school students, college students, parents, and even counselors to help plan and track educational progress in Florida Go to www.flvc.org On the main page scroll down to “Get ready for College” Click on the link that says “Bright Futures Scholarship Eligibility Evaluation” Requires User ID/Password You may use your existing facts.org login information or create a new account If a student’s record does not appear, please advise them to see their counselor.

Florida Virtual Campus www.flvc.org

Bright Futures Scholarship Eligibility Evaluation

Searching for Other Types of Aid

www.fastweb.com Free scholarship database that includes over 1.3 million scholarships worth over $3 billion Local, national, and college-specific scholarships Search and compare detailed college profiles Search for internships or part-time job openings near your home or school Recommended by more than 16,000 schools and 3,600 colleges Access FastWeb by visiting www.fastweb.com requires User ID and Password TIP- Set up a separate email account solely for scholarship searches to prevent your personal inbox becoming inundated with information. Be sure to read the details and qualifications for the scholarship before you apply to determine if you are eligible to apply. FastWeb offers a free scholarship database that includes over 1.3 million scholarships worth over $3 billion Database sources include local, national, and college-specific scholarships Search and compare detailed college profiles on FastWeb’s database FastWeb’s database allows you to also search for internships or part-time job openings near your home or school FastWeb is recommended by more than 16,000 schools and 3,600 colleges Access FastWeb by visiting www.fastweb.com requires User ID and Password

Other Sources Use www.finaid.org to search for available monies through scholarships and grants nationwide High School Guidance Office Be aware of recent scholarship scams Scams can be received via phone, letter in the mail, or E-mail Visit the Federal Trade Commission (FTC) website at www.ftc.gov for additional information on scams, or contact the FTC by calling 1-877-FTC-HELP (1-877-382-4357) or TTY 1-866-653-4261 Finaid.org offers a great list of scholarships. The list includes a section called “unusual scholarships” that include items such as Star Trek scholarships, Left Handed scholarships, Tall People/Little People scholarships, etc. Finaid.org also lists scholarships for medical conditions such as cancer survivors. Your high school guidance office is a great resource for local scholarships. Many local employers will contact the high school guidance office to advertise their scholarship applications and guidelines. Re: Scams Don’t ever pay money to get money! Financial Aid is free and so are the applications. Please be leery of companies that may solicit you and your family into paying for these programs, which are free. Report suspicious activity to the FTC.

Tax Incentive Programs When thinking about paying for college, do not forget about some of the tax incentives that can help to make college affordable for you American Opportunity Tax Credit Lifetime Learning Credit Check with your tax preparer or CPA. By law your school must provide you with a tax form.

Navigating Your Financial Future OSFA offers a variety of tools and resources to assist you in your pursuit of higher education For more information, please visit: www.navigatingyourfuture.org

For More Information www.FloridaStudentFinancialAid.org E-mail: OSFA@fldoe.org 1-888-827-2004 (Grants/Scholarships) 1-800-366-3475 (Student Loans) Outreach Representative: Gerri McCormick 407-207-4944 Gerri.mccormick@fldoe.org

Questions?

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